Cheung Kei snaps up Canary Wharf office

摘要

Chinese investor Cheung Kei Group has acquired Canary Wharf office building 5 Churchill Place from Saied Holdings for £270m. The purchase price for the former Bear Stearns headquarters (pictured) reflects a net initial yield of 5.2% and a capital value of £846/sq ft. JP Morgan is the lead tenant in the 319,000 sq ft building, occupying 10 of the building's 12 floors. Time Inc, American Express, Cision Gorkana and Balfour Beatty also let space in the building.